SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the year ended December 31, 1999
and the one month period ended December 31, 1998
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to ___________
Commission file number 1-2256
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
(Full title of the plan)
EXXON MOBIL CORPORATION
(Name of issuer of the securities)
5959 Las Colinas Boulevard
Irving, Texas 75039-2298
(Address of principal executive office)
<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
INDEX
Page
-----
Financial Statements
Statement of Net Assets Available for Benefits at
December 31, 1999, December 31, 1998 and
November 30, 1998 3-5
Statement of Changes in Net Assets
Available for Benefits, for the
Year ended December 31, 1999 and the
One month period ended December 31, 1998 6-7
Notes to Financial Statements 8-14
Supplemental Schedules
Schedule H, Item 4i-Schedule of Assets Held for
Investment Purposes at December 31, 1999 (Exhibit 1) 15-23
Item 27a - Schedule of Assets Held for Investment
Purposes at December 31, 1998 (Exhibit 2) 24-33
Item 27d - Schedule of Reportable Transactions
At December 31, 1998 (Exhibit 3) 34
Report of Independent Accountants 35
Signature 36
Exhibit Index 37
Exhibit 23 - Consent of Independent Accountants 38
-2-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1999
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Assets
Investments, at fair value:
(See Note 8) $16,726 - $16,726
Exxon Mobil Corp common stock - $1,737 1,737
------- ------ -------
Total investments 16,726 1,737 18,463
Cash 2 - 2
Amounts due from employers - 165 165
Amounts due from employees 13 - 13
Accrued interest 31 - 31
Other receivables 6 - 6
------- ------ -------
Total assets 16,778 1,902 18,680
------- ------ -------
Liabilities
Payables and accrued liabilities 3 12 15
Long-term notes payable - 266 266
Commercial paper payable - 171 171
------- ------ -------
Total liabilities 3 449 452
------- ------ -------
Net assets available
for benefits $16,775 $1,453 $18,228
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-3-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1998
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Assets
Investments, at fair value:
(See Note 8) $ 9,912 - $ 9,912
Exxon Corporation
Class A preferred stock - $252 252
Short-term investments - 20 20
------- ------ -------
Total investments 9,912 272 10,184
Cash - 1 1
Amounts due from employers - 6 6
Accrued interest 39 - 39
Other receivables 18 - 18
------- ------ -------
Total assets 9,969 279 10,248
------- ------ -------
Liabilities
Payables and accrued liabilities 36 3 39
Long-term notes payable - 125 125
------- ------ -------
Total liabilities 36 128 164
------- ------ -------
Net assets available
for benefits $9,933 $151 $10,084
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-4-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
November 30, 1998
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Assets
Investments, at fair value:
(See Note 8) $ 9,964 - $ 9,964
Exxon Corporation
Class A preferred stock - $275 275
Short-term investments - 11 11
------- ------ -------
Total investments 9,964 286 10,250
Amounts due from employers - 8 8
Dividends receivable 33 - 33
Accrued interest 36 - 36
Other receivables 2 - 2
------- ------ -------
Total assets 10,035 294 10,329
------- ------ -------
Liabilities
Payables and accrued liabilities 23 3 26
Long-term notes payable - 125 125
------- ----- -------
Total liabilities 23 128 151
------- ----- -------
Net assets available
for benefits $10,012 $166 $10,178
======= ===== =======
The accompanying notes are an integral part of these financial statements.
-5-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 1999
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Contributions:
Employer $ 18 $ 101 $ 119
Employee 180 - 180
------- ------ -------
Total contributions 198 101 299
------- ------ -------
Investment income:
Interest 143 1 144
Dividends 137 3 140
Special surplus allocation 20 (20) 0
Net appreciation in fair value
of investments 945 22 967
------- ------ -------
Total investment income 1,245 6 1,251
------- ------ -------
Interest & miscellaneous expense - (5) (5)
LESOP conversions 73 (177) (104)
Benefit payments at fair value (638) - (638)
Participant withdrawals
at fair value (90) - (90)
Transfers in 3 - 3
Transfers out at fair value (195) - (195)
Transfer in from former Mobil
Savings Plan 6,218 1,405 7,623
Interfund transfers 28 (28) -
------- ------- -------
Net increase 6,842 1,302 8,144
Net assets available for benefits:
At the beginning of the year 9,933 151 10,084
------- ------ -------
At the end of the year $16,775 $1,453 $18,228
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-6-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
ONE MONTH PERIOD ENDED DECEMBER 31, 1998
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Contributions:
Employer $ 2 $ 9 $ 11
Employee 17 - 17
------- ----- -------
Total contributions 19 9 28
------- ----- -------
Investment income:
Interest 13 - 13
Dividends - 2 2
Net depreciation in fair value
of investments (72) (17) (89)
-------- ------ --------
Total investment income (59) (15) (74)
-------- ------ --------
LESOP conversions 7 (7) -
Benefit payments at fair value (42) - (42)
Participant withdrawals
at fair value (6) - (6)
Interfund transfers 2 (2) -
-------- ------ --------
Net decrease (79) (15) (94)
Net assets available for benefits:
At November 30, 1998 10,012 166 10,178
-------- ------ -------
At December 31, 1998 $9,933 $151 $10,084
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-7-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 1: Description of the Plan
On November 30, 1999, a wholly-owned subsidiary of Exxon Corporation
("Exxon") merged with Mobil Corporation ("Mobil") so that Mobil became a
wholly-owned subsidiary of Exxon. At the same time, Exxon changed its
name to Exxon Mobil Corporation ("ExxonMobil"). Subsequently, effective
December 30, 1999, the Employee Savings Plan of Mobil Oil Corporation
("Mobil Plan") with a current value of net assets totaling $7,656 million
was merged with the Thrift Plan in the Benefit Plan of Exxon Corporation
and Participating Affiliates ("Thrift Plan", also called the "Thrift Fund")
with the Thrift Plan being the surviving plan. The net assets of the Mobil
Plan on December 30, 1999 included employer contributions receivable of
$33 million which were concurrently funded with shares from the Preferred
Stock Fund (see Note 6).
The participants in the Thrift Plan are eligible employees and former
employees of ExxonMobil and certain affiliated employers. The terms and
conditions of the Thrift Plan are fully contained in the Thrift Plan of
Exxon Corporation and Participating Affiliates document ("Plan Document")
dated January 1, 1999. Effective January 1, 2000, the Plan Document was
amended and the Thrift Plan was renamed the ExxonMobil Savings Plan. The
Thrift Plan is an "employee pension benefit plan" described in Section 3(2)
of the Employee Retirement Income Security Act of 1974 ("ERISA") and also
a "defined contribution plan" described in Section 3(34) of ERISA.
The Plan permits participant contributions of up to 18 percent of
compensation and employer contributions of up to 7 percent of compensation.
Other Thrift Plan provisions including eligibility, enrollment, vesting,
participation, forfeiture, loans, withdrawals, distributions, and federal
tax treatment of a qualified plan and trust, are described in detail in the
Plan Document. Also set forth in the Plan Document are the investment
features of the Thrift Plan including investments in ExxonMobil stock,
equity investment options, asset allocation options, fixed-income options,
and capital preservation options.
The plan year of the Thrift Plan that commenced December 1, 1998, ended on
December 31, 1998 as provided by a plan amendment that changed the plan
year of the Thrift Fund to coincide with the calender year.
-8-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 2: Accounting Policies
The accounting records of the Thrift Plan are maintained on the accrual
basis.
Investments are stated at current value. Current values are based on quoted
prices as of the date of the financial statements, or, if market quotations
are not readily available, upon estimated values obtained from a major
investment securities firm. Exxon Corporation Class A preferred stock held
in the Exxon Corporation Preferred Stock Fund is stated at current value as
measured by the value of common shares to which it was convertible. The
Merrill Lynch Floating Rate Long-Term Fixed Income Fund is stated at
current value, which approximates fair value, representing the original
cost, plus interest (based upon the crediting rates of the underlying
contracts) reduced by administration fees, transfers out, and withdrawals.
The average crediting interest rate of the Merrill Lynch Floating Rate
Long-Term Fixed Income Fund for the period ended December 31, 1999 was 6.1%.
Crediting rates fluctuate with the activities of the underlying contracts.
This investment choice has no fixed term, nor a minimum crediting interest
rate.
Net appreciation and depreciation in the current value of investments
includes realized gains and losses on investments sold or disposed of
during the year and unrealized gains and losses on investments held at
year end.
Participant loans represent the outstanding principal balances of the
loans and are valued at cost, which approximates current value.
The Thrift Plan is subject to normal risks associated with international
and domestic debt and equity markets, including the investment in Exxon
Mobil Corporation Common Stock.
During the year ended December 31, 1999 and the one month period ended
December 31, 1998, $398,723 and $6,740, respectively, of employers'
matching contributions were forfeited by terminating employees before
those amounts became vested. Such forfeited amounts are used to fund
future employer contributions.
Transfers in include participant-initiated rollovers of certain
distributions from other tax-qualified plans into the Thrift Fund.
Transfers out include a plan-to-plan transfer of the balances of former
ExxonMobil employees who became employees of the Infineum USA, L.P. joint
venture.
-9-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 3: Revalued Cost Basis Gains and Losses
The Department of Labor ("DOL") requires that the components of net
appreciation (depreciation) for investments held in the Exxon Mobil
Corporation Common Stock Fund, investments held in the Common Asset Fund,
and investments held in the Exxon Mobil Corporation ESOP Fund be segregated
and calculated on a revalued cost basis for ERISA annual ("Form 5500")
reporting purposes. Under the revalued cost basis, realized gains and
losses on investments sold are calculated as proceeds less market value at
the beginning of the year or, if acquired during the year, historical
cost. Unrealized gains and losses are calculated as market value of assets
at the end of the year less market value at the beginning of the year or,
if acquired during the year, historical cost.
For fixed income securities in the Common Asset Fund and the Exxon Mobil
Corporation ESOP Fund, gains and losses are calculated on the basis of
specific security identification. For ExxonMobil common stock, gains and
losses are calculated assuming a first-in, first-out methodology for total
shares in the portfolio for all shares sold by participants.
For the year ended December 31, 1999, the one month period ended
December 31, 1998, and the year ended November 30, 1998, these components
of net appreciation (depreciation) were:
Common Asset Exxon Mobil
Fixed Income Corp ExxonMobil
Securities Common Stock ESOP
Fund Fund Fund
------------------ -------------------- -----------------
1999 12/98 11/98 1999 12/98 11/98 1999 12/98 11/98
---- ----- ----- ---- ----- ----- ---- ----- -----
(millions of dollars)
Realized G/(L) $ (7) $ (.1) $(4) $ 74 $ (2) $ 150 $19 $ - $21
Unrealized G/(L) (21) (1.3) 11 573 (150) 1,051 - (17) 52
----- ----- ----- ----- ----- ------ --- ------ ----
Net Appreciation $(28) $(1.4) $ 7 $647 $(152) $1,201 $19 $ (17) $73
(Depreciation)
Note 4: Tax Status
The Trustee believes that the Plan is a qualified plan under IRC Section
401(a) and that the related trust is exempt from tax under IRC section
501(a). On August 28, 1997, the Internal Revenue Service issued a
favorable determination letter with respect to the qualified status of the
Thrift Plan under Section 401(a) of the Internal Revenue Code ("IRC").
The Plan has been amended since the determination letter was received.
The Trustee believes that the Plan is currently designed and is being
operated in compliance with the applicable requirements of the IRC.
-10-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 5: Expenses
Investment income from all sources is stated net of administrative expenses,
which include brokerage fees on purchases and sales of ExxonMobil common
stock, management fees, brokerage commissions, and administrative expenses.
The participating employers also pay miscellaneous administrative expenses
on behalf of the Thrift Plan.
Note 6: ExxonMobil ESOP Fund (formerly Exxon Corporation Preferred Stock
Fund)
An employee stock ownership plan was incorporated into the Thrift Plan on
August 1, 1988. This plan is commonly referred to as the Direct Dividend
Account ("DDA") and is described in detail in the Plan Document. In 1989,
the plan was leveraged when the Trustee-Thrift Trust borrowed $1.0 billion
at a floating rate of interest under the terms of notes, guaranteed by Exxon
Corporation. The Trustee used the proceeds of the borrowing to purchase
16,349,945 shares of newly issued Exxon Corporation Class A preferred stock
("Preferred Stock") for $61.50 per share which was convertible into Exxon
Corporation common stock. After the common stock split on March 14, 1997,
when the common share price exceeded $30.75, one share of preferred stock
was convertible into two shares of common stock. When the price was $30.75
or less, one share of preferred was convertible into common shares having a
total value of $61.50. Dividends on the Preferred Stock were cumulative
and payable in an amount per share equal to $4.68 per annum. Dividends on
the Preferred Stock of $4 million, $2 million, and $12 million were paid
during the year ended December 31, 1999, the one month period ended
December 31, 1998, and the year ended November 30, 1998, respectively, and
covered interest payments of $2 million, $1 million, and $8 million on the
notes. During the one month period ended December 31, 1998 and the year
ended November 30, 1998, 113,153 and 1,397,641 shares of Preferred Stock,
respectively, were converted into common stock. During the plan year
ended December 31, 1999, the remaining shares of Preferred Stock totaling
1,718,697 shares were converted to common stock.
During the year ended December 31, 1999, the one month period ended
December 31, 1998, and the year ended November 30, 1998, principal payments
of $125 million, $0 million, and $100 million, respectively, were made on
the notes. The interest rate on the notes ranged from 3.78% to 5.70% for
the year ended December 31, 1999, 3.88% to 5.70% for the one month period
ended December 31, 1998, and 3.94% to 5.28% for the year ended November 30,
1998. The final principal payment of $125 million was made during 1999.
The remaining Preferred Stock was converted into common stock and allocated
to participant accounts as of December 31, 1999 in accordance with the
Thrift Plan provisions and applicable law.
-11-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Upon merger of the Thrift Plan and the Mobil Plan on December 30, 1999,
future contributions to the employee stock ownership plan (ESOP) were
eligible for funding from the ESOP trust established in November 1989 by
Mobil. In 1989, the ESOP trust, supported by a Mobil guarantee, privately
placed $800,000,000 of floating interest rate notes due November 22, 2004,
and used the proceeds to purchase 205,788 shares of Mobil Series B
Convertible Preferred Stock at a price equal to liquidation value, or
$3,887.50 per share. Following the merger of Exxon and Mobil, each
outstanding share of Mobil Series B Convertible Preferred Stock was
converted into one share of ExxonMobil Class B Preferred Stock, with
similar terms. In December 1999, each unit of ExxonMobil's Class B
Preferred Stock was converted into 132.015 shares of ExxonMobil Common
Stock, and the accrued dividends on units of ExxonMobil Preferred Stock
were converted into shares of ExxonMobil Common Stock.
On February 27, 1990, the ESOP trust issued and Mobil guaranteed $800
million of 9.17% Sinking Fund Debentures due February 29, 2000, pursuant
to Rule 415 under the Securities Act of 1933. The ESOP trust used the
proceeds to retire the floating interest rate notes due November 22, 2004.
As of December 31, 1999, $60.6 million of these debentures were still
outstanding.
Through December 31, 1999, the ESOP trust issued and ExxonMobil guaranteed
an aggregate of $275 million of medium-term notes under a $300 million
shelf registration statement filed with the Securities and Exchange
Commission pursuant to Rule 415. The proceeds of the sales of the issued
notes were used to retire identical principal amounts of existing ESOP
trust debt. Interest on these notes is due semi-annually. On March 12,
1999, the Securities and Exchange Commission declared effective a new shelf
registration that would have permitted the offer and sale by the ESOP
trust of an additional $475 million in debt securities, guaranteed by
Mobil, pursuant to Rule 415. Subsequent to the November 30, 1999 merger
of Exxon and Mobil, the new shelf registration was withdrawn.
-12-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
A summary of the outstanding medium-term notes as of December 31, 1999 is
as follows:
Date of Interest Maturity
Issuance Amount Rate Date
-------- ------------ -------- --------
8/31/96 25,000,000 6.700% 8/31/00
8/31/96 15,000,000 6.625% 2/28/01
2/28/97 25,000,000 6.250% 8/31/01
2/28/97 10,000,000 6.300% 9/03/02
9/02/97 40,000,000 6.375% 8/31/01
3/02/98 25,000,000 5.875% 9/03/02
3/02/98 20,000,000 5.900% 2/28/03
8/31/98 45,000,000 5.800% 9/02/03
------------
$205,000,000
============
Principal and interest payments on the debentures and medium-term notes are
due semi-annually. Principal maturities by calendar year are as follows:
$85,600,000 in 2000; $80,000,000 in 2001; $35,000,000 in 2002; and
$65,000,000 in 2003.
On February 4, 1999, the ESOP trust established a commercial paper program
under which the ESOP trust may sell to institutional investors up to $500
million of short-term notes. The proceeds of the sales of such notes will
be used for the same purposes as the proceeds of the debt securities issued
by the ESOP trust under the above mentioned shelf registrations. On
March 1, 1999, the ESOP trust issued and Mobil guaranteed $115,090,808 of
4.973% notes, due August 31, 1999 . The proceeds were used in part to
retire in advance of their normal maturity dates $70,000,000 of medium-term
notes. On August 31, 1999, the Trust retired the 4.973% notes and issued
Mobil-guaranteed notes of $170,954,960 at 5.72%, due February 29, 2000.
Note 7: Claims Incurred But Not Paid
The Thrift Plan reports benefits paid on a cash basis as required under
generally accepted accounting principles. For Form 5500 reporting purposes,
claims incurred but not paid of $19 million, $12 million, and $19 million
for the year ended December 31, 1999, the one month period ended
December 31, 1998, and the year ended November 30, 1998, respectively, are
reported on an accrual basis. As such, the net assets available for
benefits reflected for Form 5500 purposes are $18,209 million, $10,072
million, and $10,159 million for the year ended December 31, 1999, the one
month period ended December 31, 1998, and the year ended November 30, 1998,
respectively.
-13-<PAGE>
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 8: Investments
The following presents investments that represent 5% or more of the Plan's
net assets available for benefits.
(millions of dollars)
December 31 December 31 November 30
1999 1998 1998
----------- ----------- -----------
ExxonMobil
Common Stock $9,556 $5,938 $6,144
ExxonMobil
Common Stock
(non-participant
directed) 1,737 - -
Equity Portfolio Fund 1,146 994 944
Jennison Equity Fund 1,581 - -
Note 9: Subsequent Events
During 2000, assets may be subject to transfer out of the ExxonMobil Savings
Plan related to the accounts of participants employed by employers divested
as a condition of approval by the Federal Trade Commission of the merger
of Exxon and Mobil.
-14-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
COMMON ASSET FUND
-----------------
CORPORATE BONDS
3M DEUTSCHLAND GMBH 5.750% 07/30/01 $ 3,000 $ 2,947
ABBEY NATIONAL TREASURY SERV 6.250% 06/30/00 6,785 6,773
AMERICAN EXPRESS CR ACCT 6.800% 12/15/03 30,110 30,124
AMERICAN EXPRESS CR ACCT 6.400% 04/15/05 9,550 9,448
AMERICAN EXPRESS MSTR TR 5.375% 07/15/01 40,255 39,914
AMERICAN INTL GROUP INC M/T/N 4.875% 10/30/00 2,588 2,550
ASSOCIATES CORP NA M/T/N 6.200% 02/15/00 3,500 3,502
BANC ONE AUTO GRANTOR TR 6.100% 10/15/02 2,546 2,545
BANC ONE AUTO GRANTOR TR 6.550% 02/15/03 1,295 1,296
BANC ONE AUTO GRANTOR TR 6.270% 11/20/03 9,911 9,887
BANC ONE AUTO GRANTOR TR 6.290% 07/20/04 12,412 12,346
BANC ONE CR CARD MSTR TR 6.150% 07/15/02 2,750 2,748
BANKBOSTON RECR VEH 6.390% 01/15/03 7,345 7,224
BARNETT AUTO TR 6.030% 11/15/01 4,298 4,298
BAYERISCHE LANDESBANK U S FIN 6.650% 01/26/00 9,250 9,255
BAYERISCHE VEREINSBANK 8.125% 01/27/00 25,000 25,022
BELLSOUTH TELECOMM INC NT 6.500% 02/01/00 4,000 4,001
BMW VEHICLE OWNER TRUST 6.410% 04/25/03 5,000 4,973
BMW VEHICLE OWNER TRUST 6.160% 12/25/01 5,000 4,992
BP AMER INC 9.375% 11/01/00 8,500 8,696
BP AMER INC 7.875% 05/15/02 4,000 4,087
BP AMERICA INC E/M/T/N 5.750% 07/30/01 15,800 15,538
BRIDGESTONE/FIRESTONE MSTR 6.170% 07/01/03 9,167 9,159
BRITISH TELECOM PLC 6.75 6.750% 04/25/02 20,000 19,930
CALIFORNIA INFRASTRUCTURE & 6.160% 06/25/03 2,000 1,987
CALIFORNIA INFRASTRUCTURE & 6.170% 03/25/03 2,000 1,988
CALIFORNIA PETE TRANS CORP 7.350% 04/01/00 18,160 18,209
CAPITAL AUTO REC ASSET 5.580% 06/15/02 30,000 29,692
CAPITAL AUTO REC ASSET 6.250% 03/15/03 25,000 24,859
CATERPILLAR FINL ASSET TR 5.900% 03/25/02 10,000 9,968
CHASE CREDIT CD MSTR TR 6.230% 06/15/03 4,126 4,115
CHASE CREDIT MSTR CD TR 5.550% 09/15/03 32,000 31,616
CHASE CREDIT MASTER TR 6.230% 04/15/05 6,000 5,914
CHASE MANH AUTO OWNER TR 6.350% 02/15/01 1,195 1,196
CHASE MANH AUTO OWNER TR 6.500% 12/17/01 4,894 4,883
CHASE MANH AUTO OWNER TR 5.700% 09/17/01 2,742 2,738
CHASE MANH AUTO OWNER TR 5.800% 12/16/02 9,420 9,301
CHASE MANH AUTO OWNER TR 5.750% 10/15/01 6,432 6,422
CHASE MANH AUTO OWNER TR 5.850% 05/15/03 10,000 9,837
CHASE MANH GRANTOR TR 5.200% 02/15/02 1,320 1,315
-15-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
CIT RV OWNER TR 5.400% 12/15/11 $ 4,891 $ 4,841
CIT RV TR 5.780% 07/15/08 10,000 9,795
CITIBANK CR CARD MSTR TR I 6.550% 02/15/04 5,000 4,966
CITIBANK CR CARD MSTR TR I 5.750% 01/15/03 32,330 31,977
CITIBANK CR CARD MSTR TR I 5.850% 04/10/03 31,000 30,619
COMMERCIAL CR GROUP INC NT 8.250% 11/01/01 10,200 10,427
CORESTATES HOME EQ TR 5.100% 03/15/09 898 888
CWABS INC 7.170% 12/25/17 5,000 4,981
DAIMLIER-BENZ AUTO GR TR 1997- 6.050% 03/20/05 3,900 3,885
DEERE JOHN OWNER TR 5.466% 08/15/01 10,000 9,962
DISCOVER CARD MASTER TR I 5.800% 09/16/03 17,000 16,787
DISCOVER CARD MASTER TR I 5.300% 08/15/04 20,500 19,860
DISCOVER CARD MASTER TR I 5.900% 10/15/04 2,000 1,957
DISCOVER CARD MASTER TRUST I 5.750% 10/16/03 15,180 14,964
ELI LILLY AND CO 8.125% 02/07/00 10,000 10,010
EURO INV BANK 7.625% 03/15/00 1,300 1,303
FIFTH THIRD AUTO GR TRUST 6.450% 03/15/02 3,044 3,047
FIFTH THIRD BK AUTO TR 1996-A 6.200% 09/15/01 1,844 1,844
FIRST SEC AUTO GR TR 6.300% 08/15/03 3,168 3,169
FIRST SECURITY AUTO GR TRUST 5.970% 04/15/04 17,169 17,043
FIRST SECURITY AUTO OWNR TRUS 5.492% 04/15/02 13,081 13,054
FIRST SECURITY AUTO OWNR TRUST 5.182% 06/15/01 2,263 2,263
FIRST USA BK NA WILMINGTON 6.125% 06/25/01 15,000 14,856
FLEETWOOD CR 1993-B GRANTOR TR 4.950% 08/15/08 1,145 1,111
FLEETWOOD CR 1994-B GRANTOR TR 6.750% 03/15/10 1,246 1,242
FORD CR AUTO OWNER TR 6.050% 04/15/01 1,862 1,862
FORD CR AUTO OWNER TR 5.650% 10/15/01 16,800 16,772
FORD CR AUTO OWNER TR 5.850% 10/15/01 9,422 9,405
FORD CR AUTO OWNER TR 5.310% 11/15/01 6,125 6,074
FORD CR AUTO OWNER TR 5.730% 11/15/00 200 200
FORD CR AUTO OWNER TR 5.860% 10/15/02 10,000 9,862
FORD CR AUTO OWNER TR 5.900% 06/15/02 6,300 6,234
FORD CR AUTO OWNER TR 5.800% 06/15/02 14,600 14,437
FORD CR AUTO OWNER TR 6.200% 04/15/02 6,000 5,986
GE CAP MTG SVCS INC 6.870% 09/25/08 4,275 4,257
GE CAP MTG SVCS INC 6.995% 09/25/13 5,000 4,970
GEN ELEC CAP CORP 8.000% 02/14/00 1,500 1,502
GEN ELEC CAP CORP E/M/T/N 6.250% 03/27/01 9,419 9,352
GENERAL ELEC CAP CORP M/T/N 6.020% 05/04/01 9,150 9,076
GENERAL ELEC CAP CORP M/T/N 5.770% 08/27/01 5,000 4,927
GENERAL ELEC CAP CORP M/T/N 5.280% 01/08/02 2,000 1,944
GENERAL ELEC CAP CORP M/T/N 5.890% 05/15/00 15,000 14,997
GENERAL ELEC CAP CORP M/T/N 7.265% 04/10/00 3,900 3,914
-16-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
GENERAL ELEC CAP CORP M/T/N 5.720% 07/16/01 $ 8,000 $ 7,888
GENERAL ELEC CAP CORP M/T/N 5.264% 01/07/02 2,000 1,943
GENERAL ELEC CAP CORP 7.375% 05/09/01 4,000 4,026
GILLETTE CO 5.75 03AUG2001 5.750% 08/03/01 8,082 7,940
GMAC GRANTOR TR 6.500% 04/15/02 2,672 2,673
GMACM MTG LN TR 0.000% 08/25/29 5,501 5,453
HARLEY-DAVIDSON EAGLEMARK 5.840% 10/15/03 8,054 7,977
HARLEY-DAVIDSON EAGLEMARK 6.220% 02/15/04 4,832 4,807
HELLER EQUIP ASSET RECEIVABLES 5.500% 07/13/03 10,000 9,823
HITACHI FINANCE(UK 6.625 6.625% 06/06/00 5,000 4,991
HONDA AUTO LEASE TR 5.875% 10/15/01 6,500 6,499
HONDA AUTO REC 1999-1 5.300% 09/15/02 27,500 27,069
HONDA AUTO REC 1999-1 5.186% 06/15/01 5,821 5,807
HONDA AUTO REC CL A 5.850% 02/15/03 9,485 9,466
HONDA AUTO REC GRANTOR 5.950% 05/15/03 16,968 16,908
HOUSEHOLD AFFINITY CR CD 5.600% 05/15/02 25,324 25,244
HOUSEHOLD HOME EQ LN TR 6.875% 10/20/23 10,000 9,940
IADB 9.500% 04/11/00 8,700 8,764
INT AMER DEV BANK E/M/T/N 5.300% 12/20/00 2,500 2,468
INTER-AMERICAN DEV BK 3.100% 09/17/01 3,000 2,829
INTER AMERICAN BK 5.5 E M/T/N 5.500% 12/19/00 7,000 6,924
INTER AMERICAN DEV BANK 6.375% 08/01/00 3,150 3,143
INTERNATIONAL BANK RECON+DEVP 3.000% 02/05/01 14,900 14,337
INTERNATIONAL TELECOM SATELLITE 6.750% 01/19/00 17,355 17,353
KEY AUTO FIN TR 6.150% 10/15/01 2,949 2,949
KEY AUTO FINANCE TR 6.150% 03/15/04 8,292 8,292
KFW INTL FIN INC 9.500% 12/15/00 12,710 13,069
KFW INTL FIN INC 9.125% 05/15/01 1,525 1,573
KFW INTL FINANCE 8.125 GTD NTS 8.125% 10/30/01 3,000 3,064
KIMBERLY CLARK CORP 9.000% 08/01/00 8,000 8,126
KIMBERLY CLARK CORP 8.625% 05/01/01 13,350 13,697
MELLON AUTO GRANTOR TR 5.460% 10/17/05 19,016 18,701
MERRILL LYNCH & CO INC 6.700% 08/01/00 2,840 2,844
MERRILL LYNCH & CO INC M/T/N 6.380% 07/18/00 6,400 6,405
MERRILL LYNCH & CO INC M/T/N 6.250% 07/25/00 4,755 4,755
MERRILL LYNCH & CO INC M/T/N 6.330% 08/25/00 1,000 1,000
NATIONSBANK DALLAS TX N A 6.350% 03/15/01 12,000 11,931
NORWEST CORP M/T/N 7.125% 04/01/00 1,400 1,404
NORWEST FINL INC 7.250% 03/15/00 2,500 2,505
OLYMPIC AUTOMOBILE REC TR 6.850% 06/15/01 541 541
OESTERREICHE KONTROLBANK 9.125% 07/12/00 9,500 9,611
PREMIER AUTO TR 5.070% 07/08/02 3,950 3,879
PREMIER AUTO TR 5.690% 06/08/02 30,000 29,730
-17-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
PREMIER AUTO TR 5.630% 08/06/01 $ 8,672 $ 8,657
PREMIER AUTO TR 5.490% 02/10/03 3,000 2,948
PREMIER AUTO TR 6.250% 08/06/01 117 117
PREMIER AUTO TR 5.770% 01/06/02 14,000 13,973
PREMIER AUTO TR 5.690% 11/08/02 15,000 14,804
PROCTER & GAMBLE CO 8.700% 08/01/01 3,900 4,024
PROCTER & GAMBLE CO NT 9.625% 01/14/01 21,790 22,456
ROCKWELL INTL CORP NT 8.375% 02/15/01 1,000 1,016
SEARS CR ACCOUNT MSTR TR II 5.800% 08/15/05 5,450 5,386
SEARS CR ACCOUNT MSTR TR II 6.200% 02/16/06 4,000 3,974
SHELL CDA LTD CDN$ DEB 8.875% 01/14/01 4,500 4,594
SMITHKLINE BEECHAM CAP INC 6.750% 10/30/01 1,015 1,012
SMITHKLINE BEECHAM CORP M/T/N 6.625% 10/01/01 1,500 1,499
SOUTHERN NEW ENGLAND M/T/N 8.000% 11/20/01 2,300 2,341
SOUTHWESTERN BELL TEL CO 6.375% 04/01/01 14,690 14,576
SOUTHWESTERN BELL TEL CO M/T/N 6.400% 04/22/02 4,500 4,433
SOUTHWESTERN BELL TEL CO M/T/N 7.000% 11/15/02 1,500 1,494
STATOIL 6.250% 10/10/00 2,640 2,629
TOYOTA AUTO REC 1999-A 5.800% 12/17/01 25,000 24,919
TOYOTA AUTO REC 1999-A 6.150% 08/16/04 6,001 5,935
TOYOTA AUTO REC GRANTOR TR 6.450% 04/15/02 6,164 6,168
UNILEVER 6.625 29MAY2001 6.625% 05/29/01 4,500 4,484
UNILEVER CAPITAL CORP 9.250% 03/29/00 29,700 29,825
UNITED PARCEL SERV 6.250% 07/07/00 27,904 27,848
USAA AUTO LN GRANTOR TR 6.100% 02/15/06 15,253 15,118
USAA AUTO LN GRANTOR TR 5.800% 01/15/05 10,009 9,922
USAA AUTO LN GRANTOR TR 6.000% 05/15/04 4,791 4,769
WACHOVIA BK N C N A BK NOTE 6.300% 03/15/01 5,000 4,972
WACHOVIA BK N C N A M/T/N 5.400% 02/20/01 13,500 13,301
WAL MART STORES 9.100% 07/15/00 34,136 34,646
WAL MART STORES 6.125% 11/21/00 5,701 5,662
WAL MART STORES INC 6.150% 08/10/01 5,000 4,964
WAL-MART STORES INC 8.625% 04/01/01 7,711 7,886
---------- -----------
TOTAL CORPORATE BONDS $1,441,079 $1,434,617
-18-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
GOVERNMENT BONDS
FEDERAL FARM CR BKS CONS 5.125% 04/02/01 $ 30,000 $ 29,512
FEDERAL FARM CR BKS CONS M/T/N 4.850% 10/23/01 15,000 14,575
FEDERAL FARM CR BKS CONS M/T/N 6.450% 04/03/00 1,700 1,702
FEDERAL FARM CR BKS CONS M/T/N 5.560% 08/27/01 19,980 19,687
FEDERAL FARM CR BKS CONS M/T/N 5.570% 03/23/01 6,500 6,434
FEDERAL FARM CR BKS CONS M/T/N 6.280% 06/20/01 1,800 1,795
FEDERAL FARM CR BKS CONS M/T/N 5.800% 10/10/00 1,700 1,693
FEDERAL FARM CR BKS CONS M/T/N 4.960% 01/11/01 10,000 9,860
FEDERAL HOME LN BANK NT 7.280% 07/25/01 2,000 2,021
FEDERAL HOME LN BKS 5.375% 03/02/01 21,800 21,541
FEDERAL HOME LN BKS 5.040% 10/26/00 3,000 2,969
FEDERAL HOME LN BKS 5.630% 06/22/01 1,305 1,289
FEDERAL HOME LN BKS 5.500% 07/14/00 8,445 8,413
FEDERAL HOME LN BKS 5.620% 08/10/00 2,400 2,391
FEDERAL HOME LN BKS 5.750% 04/30/01 2,515 2,491
FEDERAL HOME LN BKS 5.645% 03/23/01 8,000 7,923
FEDERAL HOME LN BKS 5.610% 06/22/01 10,000 9,872
FEDERAL HOME LN BKS 5.710% 03/16/01 1,250 1,239
FEDERAL HOME LN BKS 5.500% 04/14/00 2,050 2,046
FEDERAL HOME LN BKS 6.580% 09/20/01 1,000 1,000
FEDERAL HOME LN BKS 5.125% 04/17/01 15,000 14,756
FEDERAL HOME LN BKS CONS 6.360% 03/21/01 1,000 998
FEDERAL HOME LN BKS CONS BD 7.260% 09/06/01 4,125 4,170
FEDERAL HOME LN BKS CONS BD 6.670% 04/06/01 1,000 1,002
FEDERAL HOME LN BKS CONS BD 6.145% 01/28/00 3,000 3,000
FEDERAL HOME LN BKS DEB 5.890% 07/24/00 1,000 998
FEDERAL HOME LN BKS DEB 4.395% 10/23/00 15,000 14,770
FEDERAL HOME LN BKS DEB 5.190% 03/01/01 10,000 9,859
FEDERAL HOME LN BKS DEB 5.010% 09/21/00 19,675 19,497
FEDERAL HOME LN BKS DEB 4.960% 09/29/00 2,000 1,981
FEDERAL HOME LN BKS DEB 4.630% 10/09/01 20,000 19,362
FEDERAL HOME LN BKS DEB 4.955% 11/20/01 10,000 9,716
FEDERAL HOME LN BKS DEB 4.885% 12/28/00 1,410 1,390
FEDERAL HOME LN BKS DEB 5.620% 01/12/01 4,000 3,969
FEDERAL HOME LN BKS DEB 4.735% 12/15/00 11,225 11,053
FEDERAL HOME LN BKS M/T/N 8.000% 09/11/01 1,000 1,023
FEDERAL HOME LN MTG CORP 7.060% 06/25/16 10,000 9,995
FEDERAL HOME LN MTG CORP DEB 6.565% 05/23/01 1,000 1,001
FEDERAL HOME LN MTG CORP REMIC 6.720% 08/25/16 9,000 8,889
FEDERAL HOME LOAN MTG 6.00 6.000% 04/25/00 17,600 17,594
-19-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
FEDERAL HOME LN MTGE CORP 5.500% 05/15/02 $ 28,000 $ 27,309
FEDERAL HOME LOAN BANK 5.520% 01/22/01 1,000 991
FEDERAL HOME LOAN BANK CONS BD 5.500% 08/13/01 10,000 9,856
FEDERAL NATL MTG ASSN GTD REMIC 5.750% 09/25/07 25,000 24,507
FEDERAL NATL MTG ASSN M/T/N 6.375% 08/14/01 1,000 998
FEDERAL NATL MTG ASSN M/T/N 6.160% 04/03/01 6,000 5,979
FEDERAL NATL MTG ASSN M/T/N 6.400% 05/02/01 5,350 5,342
FEDERAL NATL MTG ASSN M/T/N 5.200% 09/14/00 22,000 21,831
FEDERAL NATL MTG ASSN M/T/N 4.450% 10/16/00 5,000 4,928
FEDERAL NATL MTG ASSN M/T/N 5.720% 01/09/01 4,000 3,974
FEDERAL NATL MTG ASSN 5.375% 03/15/02 15,000 14,634
FEDERAL NATL MTG ASSN #190778 6.000% 05/01/01 5,301 5,267
FEDERAL NATL MTG ASSN #247817 6.000% 11/01/00 558 554
FEDERAL NATL MTG ASSN #303277 6.000% 06/01/01 13,807 13,720
FEDERAL NATL MTG ASSN #313201 6.000% 06/01/01 9,499 9,384
FEDERAL NATL MTG ASSN M/T/N 6.650% 09/04/01 1,210 1,212
FEDERAL NATL MTG ASSN M/T/N 4.720% 12/11/00 5,000 4,925
FEDERAL NATL MTG ASSN M/T/N 5.490% 08/18/00 8,960 8,916
FEDERAL NATL MTG ASSN M/T/N 5.550% 08/10/00 5,000 4,979
FEDERAL NATL MTG ASSN M/T/N 6.180% 03/15/01 1,500 1,496
FEDL HOME LOAN MTG CORP 7.900% 09/19/01 1,875 1,915
FEDL HOME LOAN MTG CORP#G40343 5.500% 12/01/00 12,635 12,554
FEDL HOME LOAN MTG CORP#L80028 6.000% 07/01/00 763 759
FEDL HOME LOAN MTG CORP#M80169 6.000% 05/01/00 1,839 1,830
FEDL HOME LOAN MTG CORP#M80306 5.500% 01/01/01 2,982 2,941
FEDL HOME LOAN MTG CORP#N93561 6.000% 05/01/00 942 937
FEDL HOME LOAN MTG CORP#N94196 6.000% 08/01/00 572 569
INTER AMERN DEV BK 8.500% 05/01/01 7,800 7,993
---------- ----------
TOTAL GOVERNMENT BONDS $ 510,073 $ 503,776
CERTIFICATE OF DEPOSITS
FCC NATIONAL BANK C/D 5.550% 04/26/02 $ 15,000 $ 14,834
GREENWOOD TR CO DEL C/D 5.800% 03/20/00 15,000 14,997
GREENWOOD TR CO DEL C/D 5.100% 10/09/00 10,000 9,921
---------- ----------
TOTAL CERTIFICATE OF DEPOSITS $ 40,000 $ 39,752
---------- ----------
TOTAL FIXED INCOME
SECURITIES $1,991,152 $1,978,145
-20-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
SHORT TERM INVESTMENTS
BEAR STEARNS MASTER NOTE 02/01/00 $ 5,031 $ 5,031
GOLDMAN SACHS & CO MASTER NOTE 02/01/00 11,046 11,046
COLLECTIVE SHORT TERM INVEST FD 01/00/00 48,494 48,494
SEI DAILY INCOME TR PRIME OBLIG CL-A#34 01/00/00 30,976 30,976
---------- ----------
TOTAL SHORT TERM INVESTMENTS $ 95,547 $ 95,547
PARTICIPANT LOANS
(ANNUAL INTEREST RATES
FROM 9.0 TO 7.5,
MAXIMUM PERIOD OF
REPAYMENT IS 60 MONTHS) N/A $ 152,410 $ 152,410
---------- ----------
TOTAL COMMON ASSET INVESTMENTS $2,239,109 $2,226,102
========== ==========
-21-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
SHARES/ CURRENT
UNITS COST VALUE
FUND/ISSUE (000'S) ($000's) ($000'S)
-------------------------------------------------------------------------
COMMON STOCK FUND
----------------------------
*EXXONMOBIL CORPORATION COMMON
STOCK 118,619 $9,556,257
REGISTERED INVESTMENT COMPANIES:
--------------------------------
*MERRILL LYNCH INSTITUTIONAL FUND 122,945 $ 122,945
MASSACHUSETTS FINANCIAL SERVICES
COMPANY MFS EMERGING GROWTH FUND 3,007 $ 200,266
*MERRILL LYNCH GLOBAL ALLOCATION FUND 5,127 $ 71,885
FRANKLIN CUSTODIAN FUNDS, INC.
FRANKLIN U.S. GOVERNMENT
SECURITIES FUND 13,916 $ 90,873
AIM CHARTER FUND 5,940 $ 109,763
FRANKLIN TEMPLETON GROUP TEMPLETON
FOREIGN FUND 6,505 $ 72,989
FRANKLIN TEMPLETON GROUP TEMPLETON
DEVELOPING MARKETS TRUST 2,460 $ 38,394
COMMON COLLECTIVE TRUSTS:
--------------------------
BARCLAYS GLOBAL INVESTORS
EQUITY FUND 3,251 $1,145,539
BARCLAYS GLOBAL INVESTORS
EXTENDED EQUITY INDEX FUND 14,378 $ 397,669
*MERRILL LYNCH EQUITY INDEX TRUST 1,734 $ 175,436
BARCLAYS GLOBAL INVESTORS
BALANCED FUND INDEX FUND 6,536 $ 77,112
OTHER INVESTMENTS:
------------------
JENNISON EQUITY FUND 12,225 $1,580,777
*MERRILL LYNCH FLOATING RATE LONG-
TERM FIXED INCOME FUND 797,029 $ 797,029
-22-<PAGE>
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
SCHEDULE H - ITEM 4i
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/99
(thousands of dollars)
SHARES/ CURRENT
UNITS COST VALUE
FUND/ISSUE (000'S) ($000's) ($000'S)
-------------------------------------------------------------------------
*PARTICIPANT LOANS
------------------
(ANNUAL INTEREST RATES
FROM 6.0% TO 9.0%,
MAXIMUM PERIOD OF
REPAYMENT IS 60 MONTHS) $ 63,543
-----------
TOTAL PARTICIPANT-DIRECTED INVESTMENTS $16,726,579
-----------
ESOP FUND:
----------
*EXXONMOBIL CORPORATION COMMON 21,555 $ 640,385 $1,736,532
STOCK (non-participant directed)
---------- -----------
TOTAL NON-PARTICIPANT-DIRECTED INVESTMENTS $ 640,385 $1,736,532
---------- -----------
TOTAL ASSETS HELD FOR INVESTMENT PURPOSES $18,463,111
===========
* Party-in-interest as defined by ERISA
-23-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
COMMON ASSET FUND
-----------------
CORPORATE BONDS
3M DEUTSCHELAND GM 5.75 5.750% 07/30/99 $ 3,000 $ 3,044 $ 3,054
ABBEY NATIONAL 6.250% 06/30/00 6,785 6,798 6,860
AMER EXPR MASTER TR 5.375% 07/15/01 40,255 40,139 40,301
AMER INTL GRP INC M/T/N 6.250% 08/16/99 20,000 19,966 20,135
AMER INTL GRP INC M/T/N 6.050% 11/01/99 5,250 5,245 5,288
AMER INTL GRP INC M/T/N 4.875% 10/30/00 2,588 2,582 2,578
ASSOC CORP NORTH AMER 6.625% 07/15/99 2,325 2,329 2,340
ASSOC CORP N AMER M/T/N 6.470% 05/17/99 3,000 3,000 3,013
ASSOC CORP N AMER M/T/N 5.440% 01/29/99 2,900 2,898 2,900
ASSOC CORP N AMER M/T/N 6.200% 02/15/00 3,500 3,514 3,532
ASSOC CORP N AMER NTS 6.250% 03/15/99 3,725 3,725 3,732
AUSTRIA REP 9.125% 04/25/99 7,000 7,051 7,087
BANC ONE AUTO GRANTOR TR 6.100% 10/15/02 7,059 7,072 7,104
BANC ONE AUTO GRANTOR TR 6.550% 02/15/03 3,407 3,403 3,438
BANC ONE AUTO GRANTOR TR 6.270% 11/20/03 19,538 19,603 19,758
BANC ONE AUTO GRANTOR TR 6.290% 07/20/04 16,258 16,369 16,457
BANKBOSTON RECR VEH 6.390% 01/15/03 14,690 14,760 15,169
BARNETT AUTO TR 6.030% 11/15/01 13,500 13,510 13,591
BARNETT AUTO TR 5.920% 07/15/00 6,787 6,802 6,796
BAYER USA INC 7.750% 10/28/99 10,950 11,088 11,141
BAYERISCHE LANDESBANK
GIROZENTRALE M/T/N 6.550% 07/19/99 10,000 9,998 10,075
BAYERISCHE LANDESBANK
GIROZENTRALE M/T/N 6.125% 10/22/99 10,000 9,972 10,120
BAYERISCHE LANDESBANK U S
FIN M/T/N 6.650% 01/26/00 9,250 9,322 9,429
BAYERISCHE VEREINSBANK 8.125% 01/27/00 25,000 25,407 25,687
BELLSOUTH CAP FDG CORP
SER A M/T/N 8.650% 10/01/99 2,700 2,744 2,768
BELLSOUTH TELECOMM INC NT 6.500% 02/01/00 4,000 4,015 4,060
BOATMENS AUTO TR 95-A A-3 6.100% 05/15/00 1,544 1,544 1,547
BP AMER INC 9.375% 11/01/00 7,500 8,019 8,052
BP AMER INC M/T/N 6.923% 01/15/99 7,000 7,002 7,003
BP AMERICA INC 5.750% 07/30/01 15,800 16,047 15,978
BRIDGESTONE/FIRESTONE MSTR 6.170% 07/01/03 10,000 10,045 10,124
BRITISH PETROLEUM AMER 9.750% 03/01/99 14,450 14,483 14,540
BRITISH TELECOM FIN INC 9.375% 02/15/99 17,210 17,265 17,286
CALIF INFRASTRUCTURE & 6.160% 06/25/03 2,000 2,000 2,045
CALIF INFRASTRUCTURE & 6.010% 06/25/01 2,978 2,981 2,978
CALIF INFRASTRUCTURE & 6.170% 03/25/03 2,000 2,000 2,028
-24-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
CALIF PETE TRANS CORP 7.350% 04/01/00 $ 18,160 $ 18,481 $ 18,614
CASE EQUIP LN TR 6.150% 09/15/02 2,023 2,023 2,025
CHASE CREDIT CD MSTR TR 6.230% 06/15/03 4,126 4,130 4,195
CHASE CREDIT MSTR CD TR 5.550% 09/15/03 15,000 14,950 15,085
CHASE MAN AUTO OWNER TR 6.350% 02/15/01 8,000 7,998 8,063
CHASE MAN AUTO OWNER TR 5.700% 09/17/01 5,000 4,988 5,023
CHASE MAN AUTO OWNER TR 5.750% 10/15/01 10,000 9,999 10,055
CHASE MAN AUTO OWNER TR 5.747% 08/15/00 12,300 12,319 12,342
CHASE MAN CR CD MSTR TR 6.730% 02/15/03 10,500 10,500 10,562
CHASE MAN GRANTOR TR 6.000% 09/17/01 3,349 3,351 3,360
CHASE MAN GRANTOR TR 5.900% 11/15/01 3,989 3,990 3,999
CHASE MAN GRANTOR TR 5.200% 02/15/02 4,166 4,163 4,168
CHESAPEAKE & POTOMAC TEL
CO MD 5.875% 09/15/99 11,000 10,980 11,055
CIT RV OWNER TR 5.400% 12/15/11 7,246 7,240 7,256
CITIBANK CR CD MSTR TR I 5.750% 01/15/03 22,825 22,916 23,058
CITIBANK CR CD MSTR TR I 5.850% 04/10/03 11,000 11,037 11,086
CORESTATES HOME EQ TR 5.100% 03/15/09 1,808 1,808 1,794
CR LOCAL DE FRANCE DEB 8.875% 10/18/99 22,871 23,310 23,472
CTS HOME EQUITY LN TR 7.700% 09/15/06 1,845 1,868 1,841
DAIMLER-BENZ AUTO GR TR 5.850% 05/15/02 3,295 3,295 3,296
DAIMLER-BENZ VEH TR 5.850% 07/20/03 9,682 9,686 9,725
DAIMLIER-BENZ AUTO GR TR
1997-A A 6.050% 03/20/05 8,048 8,053 8,114
DEUTSCH BANK FIN INC 9.375% 06/21/99 3,469 3,516 3,528
DISCOVER CARD MSTR TR I 5.400% 11/16/01 14,686 14,647 14,694
DISCOVER CARD MSTR TR I 5.800% 09/16/03 12,000 11,964 12,052
DISCOVER CARD MSTR TR I 5.750% 10/16/03 5,000 4,974 5,043
EKSPORTFINANS AS EMTN 7.740% 05/06/99 1,400 1,404 1,411
ELI LILLY AND CO 8.125% 02/07/00 10,000 10,221 10,255
EURO INV BANK 7.625% 03/15/00 1,300 1,325 1,333
EUROPEAN INVT BK M/T/N 8.875% 02/15/99 8,500 8,523 8,535
EUROPEAN INVT BK M/T/N 6.330% 10/01/99 13,000 13,004 13,079
EUROPEAN INVT BK M/T/N 7.350% 06/01/99 9,000 9,031 9,085
FIFTH THIRD AUTO GR TR 6.450% 03/15/02 9,139 9,176 9,221
FIFTH THIRD BK AUTO TR
1996-A 6.200% 09/15/01 6,594 6,594 6,629
FIRST SEC AUTO GR TR 6.250% 01/15/01 526 528 526
FIRST SEC AUTO GR TR 6.300% 08/15/03 7,665 7,680 7,669
FIRST SEC AUTO GR TR 5.970% 04/15/04 31,105 31,209 31,343
FIRST SEC AUTO OWNER TR 5.182% 06/15/01 20,000 20,000 20,012
FLEETWOOD CR 1993-B GR TR 4.950% 08/15/08 1,600 1,596 1,594
FLEETWOOD CR 1994-B GR TR 6.750% 03/15/10 1,757 1,753 1,780
FORD CR AUTO OWNER TR 6.750% 09/15/00 6,281 6,282 6,332
-25-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
FORD CR AUTO OWNER TR 6.100% 03/15/00 $ 2,154 $ 2,154 $ 2,159
FORD CR AUTO OWNER TR 6.050% 04/15/01 6,075 6,081 6,115
FORD CR AUTO OWNER TR 5.650% 10/15/01 30,450 30,448 30,590
FORD CR AUTO OWNER TR 5.850% 10/15/01 10,000 10,066 10,087
FORD CR AUTO OWNER TR 5.800% 10/15/00 19,073 19,088 19,154
FORD CR AUTO OWNER TR 5.730% 11/15/00 3,100 3,112 3,112
FORD CR GRANTOR TR 5.900% 10/15/00 5,385 5,391 5,398
GE CAP MTG SVCS INC 7.200% 09/15/11 278 298 277
GEN ELEC CAP CORP 8.000% 02/14/00 1,500 1,531 1,542
GEN ELEC CAP CORP E/M/T/N 6.250% 03/27/01 9,419 9,585 9,380
GEN ELEC CAP CANADA 8.750% 10/25/99 2,974 3,037 3,048
GEN ELEC CAP CORP 7.375% 05/09/01 4,000 4,172 4,165
GEN ELEC CAP CORP M/T/N 8.100% 01/26/99 2,000 2,003 2,003
GEN ELEC CAP CORP M/T/N 5.890% 05/15/00 15,000 15,118 15,156
GEN ELEC CAP CORP M/T/N 5.190% 02/12/99 5,000 5,000 4,999
GEN ELEC CAP CORP M/T/N 5.480% 03/01/99 5,000 4,991 5,002
GEN ELEC CAP CORP M/T/N 7.265% 04/10/00 3,900 3,952 4,005
GEN ELEC CAP CORP M/T/N 5.210% 02/09/99 5,000 4,999 4,999
GEN ELEC CAPITAL 6.875% 06/03/99 3,430 3,443 3,447
GMAC GRANTOR TR 6.500% 04/15/02 7,015 7,013 7,075
HALIFAX BUILDING SOCIETY 6.625% 07/26/99 20,000 20,045 19,731
HEWLETT-PACKARD FIN CO M/T 6.500% 12/30/99 8,000 8,040 8,080
HITACHI FINANCE UK PLC 6.625% 06/06/00 5,000 5,021 5,013
HONDA AUTO REC CL A 5.850% 02/15/03 21,088 21,091 21,199
HONDA AUTO REC GRANTOR 5.950% 05/15/03 16,254 16,288 16,360
HOUSEHOLD AFFINITY CR CD 5.600% 05/15/02 27,626 27,536 27,764
IADB 9.500% 04/11/00 8,700 9,049 9,135
IBRD 4.500% 08/26/99 10,089 9,995 10,057
INT AMER DEV BANK E/M/T/N 5.300% 12/20/00 2,500 2,533 2,497
INTER AMER BK 5.5 E M/T/N 5.500% 12/19/00 7,000 6,968 7,018
INTER AMERICAN DEV BANK 6.375% 08/01/00 3,150 3,205 3,197
INTER AMER DEV BK M/T/N 5.600% 05/28/99 26,930 26,858 26,964
INTER-AMERICAN DEV BK 3.100% 09/17/01 3,000 2,880 2,829
INTL BK FOR RECON & DEV
COLTS 9.625% 04/28/99 5,000 5,048 5,075
INTL TELECOM SATELLITE 6.750% 01/19/00 17,355 17,449 17,572
INTL BANK RECON DEV 3.0 3.000% 02/05/01 14,900 14,203 14,211
KEY AUTO FIN TR 6.150% 10/15/01 6,000 5,999 6,054
KEY AUTO FIN TR 6.050% 09/15/03 8,000 8,014 8,043
KEY AUTO FINANCE TR 5.850% 03/15/03 533 533 534
KEY AUTO FINANCE TR 6.150% 03/15/04 9,641 9,671 9,751
KEYCORP AUTO GRANTOR TR 5.800% 07/15/00 914 914 914
KFW INTL FIN INC 9.500% 12/15/00 12,710 13,549 13,736
KFW INTL FIN INC 9.125% 05/15/01 1,525 1,674 1,658
-26-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
KFW INTL FIN INC GTD NT 8.850% 06/15/99 $ 21,180 $ 21,448 $ 21,530
KFW INTL FIN INC-M/T/N 9.020% 02/23/99 5,000 5,018 5,025
KFW INTL FIN 8.125 GTD NTS 8.125% 10/30/01 3,000 3,255 3,218
KIMBERLY CLARK CORP 9.000% 08/01/00 5,000 5,220 5,288
KIMBERLY CLARK CORP 8.625% 05/01/01 8,350 8,848 8,980
KREDIETBANK INTL FIN 6.125% 04/29/99 20,000 19,984 20,360
LBK RHEIN-PFALZ GI M/T/N 6.100% 10/28/99 32,100 32,037 32,221
LILLY ELI & CO M/T/N 7.100% 02/16/99 1,000 1,001 1,002
MBNA MASTER CR CARD TR 5.400% 09/15/00 7,131 7,105 7,119
MCDONALDS COR M/T/N SER B 8.375% 10/29/99 2,100 2,134 2,154
MCDONALDS CORPORATION 6.625% 12/20/99 1,540 1,549 1,553
MERRILL LYNCH & CO INC 6.700% 08/01/00 2,840 2,877 2,894
MERRILL LYNCH & CO INC M/T 6.380% 07/18/00 6,400 6,477 6,488
MERRILL LYNCH & CO INC M/T 6.250% 07/25/00 4,755 4,817 4,826
MERRILL LYNCH & CO INC M/T 6.330% 08/25/00 1,000 1,008 1,017
MMCA AUTO OWNER TR 5.700% 11/15/00 857 858 857
MORGAN J P & CO INC M/T/N 6.000% 03/18/99 20,000 19,987 20,022
NATIONSBANK AUTO GR TR 5.850% 06/15/02 3,575 3,575 3,588
NATIONSBANK AUTO OWNR TR 6.375% 07/15/00 11,212 11,213 11,237
NATL AUSTRALIA BK 6.00 6.000% 03/26/99 6,000 5,998 6,008
NAVISTAR FIN 95-A OWNR TR 6.550% 11/20/01 1,381 1,385 1,382
NEW ENGLAND TEL & TEL CO 6.150% 09/01/99 2,000 1,994 2,014
NIPPON TEL & TEL 9.000% 07/19/99 2,630 2,664 2,676
NISSAN AUTO REC GR TR 6.100% 08/15/01 3,621 3,623 3,628
NORWEST AUTOMOBILE TR 5.900% 03/15/00 11,055 11,052 11,070
NORWEST CORP M/T/N 7.125% 04/01/00 1,400 1,419 1,428
NORWEST CORP M/T/N 7.125% 09/09/99 3,000 3,012 3,038
NORWEST CORP M/T/N 7.625% 10/15/99 1,000 1,013 1,018
NORWEST CORP M/T/N 6.250% 04/15/99 6,150 6,153 6,172
NORWEST FINL INC 7.250% 03/15/00 2,500 2,538 2,553
NORWEST FINL INC M/T/N 6.375% 10/01/99 4,250 4,243 4,286
OEST KONTROLLBANK 7.50 7.500% 11/15/99 2,733 2,794 2,781
OESTERREICHE KONTROLBANK 9.125% 07/12/00 9,500 9,885 10,014
OESTERREICHISCHE
KONTROLLBANK M/T/N 8.700% 07/13/99 8,000 8,092 8,152
OLYMPIC AUTO REC TR 6.850% 06/15/01 1,362 1,362 1,363
PITNEY BOWES CR CORP M/T/N 6.540% 07/15/99 10,000 10,014 10,071
PNC STUDENT LN TR I 6.138% 01/25/00 16,565 16,587 16,608
PREMIER AUTO TR 5.690% 06/08/02 12,000 11,999 12,089
PREMIER AUTO TR 5.630% 08/06/01 10,000 9,999 10,047
PREMIER AUTO TR 6.000% 05/06/00 1,048 1,049 1,049
PREMIER AUTO TR 6.350% 01/06/00 861 861 862
PREMIER AUTO TR 6.500% 03/06/00 7,103 7,108 7,118
PREMIER AUTO TR 6.250% 08/06/01 1,000 1,004 1,006
-27-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
PREMIER AUTO TR 6.120% 06/06/00 $ 14,237 $ 14,236 $ 14,282
PREMIER AUTO TR 5.770% 01/06/02 14,000 14,000 14,095
PREMIER AUTO TR 6.150% 03/06/00 3,084 3,085 3,089
PROCTER & GAMBLE CO 8.700% 08/01/01 1,900 2,072 2,062
PROCTER & GAMBLE CO NT 9.625% 01/14/01 21,790 23,316 23,724
RABOBANK NEDERLAND M/T/N 5.950% 10/06/99 15,000 14,999 15,109
ROCKWELL INTL CORP 8.875% 09/15/99 10,250 10,453 10,501
ROCKWELL INTL CORP NT 8.375% 02/15/01 1,000 1,050 1,060
SEARS CR ACCT MSTR TR II 6.250% 01/15/03 6,167 6,196 6,173
SEARS CR ACCT MSTR TR II 6.500% 10/15/03 18,333 18,331 18,443
SHELL CDA LTD CDN$ DEB 8.875% 01/14/01 4,500 4,764 4,815
SHELL OIL CO NT 6.625% 07/01/99 8,800 8,806 8,862
SW BELL TEL CO 6.375% 04/01/01 3,200 3,230 3,276
SW BELL TEL CO M/T/N 6.400% 08/18/99 4,000 4,008 4,028
STANDARD CR CD MSTR TR 5.500% 02/07/00 16,750 16,749 16,751
STANDARD CR CD MSTR TR 1 6.800% 04/07/01 2,000 2,001 2,008
STANDARD CR CD MSTR TR I 5.900% 02/07/01 27,425 27,421 27,444
STATOIL 6.625% 09/27/99 10,000 10,052 10,075
STATOIL 6.250% 10/10/00 2,640 2,656 2,666
TMS HOME EQUITY LN TR 5.175% 07/15/06 612 620 610
TOKYO METROPOLIS JAPAN 8.700% 10/05/99 2,000 2,034 2,050
TOYOTA AUTO RECEIVABLES 6.300% 07/20/01 6,613 6,614 6,635
TOYOTA AUTO REC GR TR 6.450% 04/15/02 14,555 14,575 14,685
UNILEVER 6.625 29MAY2001 6.625% 05/29/01 4,500 4,648 4,611
UNILEVER CAPITAL CORP 9.250% 03/29/00 29,700 30,591 30,999
UNILEVER NV EURO MTN US$ 8.000% 12/08/99 7,000 7,124 7,158
UNITED PARCEL SERV 6.250% 07/07/00 27,904 28,068 28,183
USAA AUTO LN GRANTOR TR 5.800% 01/15/05 12,426 12,419 12,519
USAA AUTO LN GRANTOR TR 6.000% 05/15/04 8,362 8,391 8,415
USAA CAP CORP M/T/N 6.550% 09/20/99 10,000 10,027 10,097
WACHOVIA BK N C N A M/T/N 7.050% 06/09/99 15,000 15,038 15,117
WACHOVIA BK N C N A M/T/N 7.000% 05/12/99 5,800 5,806 5,836
WACHOVIA BK N C N A M/T/N 5.375% 01/04/99 5,650 5,650 5,650
WACHOVIA BK N C N A M/T/N 6.000% 03/15/99 2,450 2,450 2,454
WACHOVIA BK N C N A M/T/N 5.400% 02/20/01 5,000 5,004 5,003
WACHOVIA BK N C N A M/T/N 5.840% 11/29/99 5,000 5,001 5,029
WACHOVIA BK N C N A M/T/N 6.700% 04/14/99 1,000 1,001 1,004
WAL MART STORES 9.100% 07/15/00 26,651 27,909 28,244
WAL MART STORES 6.125% 11/21/00 5,701 5,736 5,758
WAL MART STORES INC NT 6.125% 10/01/99 4,000 3,996 4,022
WAL-MART STORES INC 8.625% 04/01/01 4,711 5,072 5,066
----------- ----------- ----------
TOTAL CORPORATE BONDS $1,741,782 $1,753,757 $1,762,828
-28-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
GOVERNMENT BONDS
FED FARM CR BKS CONS M/T/N 5.500% 04/01/99 $ 15,000 $ 15,017 $ 15,012
FED FARM CR BKS CONS M/T/N 6.450% 04/03/00 1,700 1,731 1,729
FED FARM CR BKS CONS M/T/N 5.800% 10/10/00 1,700 1,725 1,723
FED FARM CR BKS CONS M/T/N 5.570% 03/23/01 6,500 6,575 6,579
FED FARM CR BKS CONS M/T/N 6.280% 06/20/01 1,800 1,865 1,851
FED FARM CR BKS CONS M/T/N 5.560% 08/27/01 19,980 20,461 20,255
FED FARM CR BKS CONS M/T/N 4.850% 10/23/01 15,000 15,112 14,925
FED HOME LN BANK NT 7.280% 07/25/01 2,000 2,122 2,106
FED HOME LN BKS 5.500% 04/14/00 2,050 2,065 2,063
FED HOME LN BKS 5.500% 07/14/00 8,445 8,507 8,507
FED HOME LN BKS 5.620% 08/10/00 1,000 1,010 1,010
FED HOME LN BKS 5.040% 10/26/00 3,000 2,997 3,003
FED HOME LN BKS 5.710% 03/16/01 1,250 1,266 1,269
FED HOME LN BKS 5.750% 04/30/01 2,515 2,573 2,553
FED HOME LN BKS 5.630% 06/22/01 1,305 1,333 1,322
FED HOME LN BKS 5.610% 06/22/01 10,000 10,211 10,128
FED HOME LN BKS 6.580% 09/20/01 1,000 1,047 1,038
FED HOME LN BKS CONS 6.360% 03/21/01 1,000 1,034 1,028
FED HOME LN BKS CONS BD 6.145% 01/28/00 3,000 3,044 3,038
FED HOME LN BKS CONS BD 6.670% 04/06/01 1,000 1,041 1,034
FED HOME LN BKS CONS BD 7.260% 09/06/01 4,125 4,383 4,350
FED HOME LN BKS DEB 5.890% 07/24/00 1,000 1,014 1,013
FED HOME LN BKS DEB 5.010% 09/21/00 19,675 19,685 19,684
FED HOME LN BKS DEB 4.960% 09/29/00 2,000 2,002 1,998
FED HOME LN BKS DEB 4.395% 10/23/00 15,000 14,862 14,850
FED HOME LN BKS DEB 4.735% 12/15/00 11,225 11,187 11,174
FED HOME LN BKS DEB 4.885% 12/28/00 1,410 1,405 1,408
FED HOME LN BKS DEB 4.630% 10/09/01 20,000 19,968 19,785
FED HOME LN BKS DEB 4.955% 11/20/01 10,000 9,968 9,977
FED HOME LN BKS M/T/N 8.000% 09/11/01 1,000 1,082 1,073
FED HOME LN MTG CORP DEB 4.950% 02/22/99 5,000 4,996 4,998
FED HOME LN MTG CORP DEB 6.565% 05/23/01 1,000 1,041 1,034
FED HOME LN MTG CORP NTS 4.950% 02/22/99 10,000 9,986 9,997
FED HOME LOAN 5.520% 01/22/01 1,000 1,011 1,010
FED HOME LOAN BANK 9.300% 01/25/99 8,280 8,297 8,299
FED HOME LOAN BANK CONS BD 5.500% 08/13/01 10,000 10,085 10,108
FED HOME LOAN MTG 6.000% 04/25/00 17,600 17,907 17,796
FED NATL MTG ASSN DEB 8.550% 08/30/99 5,120 5,197 5,235
FED NATL MTG ASSN DEB 7.680% 11/22/99 2,465 2,496 2,523
FED NATL MTG ASSN DISCT 0.000% 04/01/99 10,000 9,768 9,772
FED NATL MTG ASSN M/T/N 5.200% 01/25/99 5,000 5,000 5,000
-29-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
FED NATL MTG ASSN M/T/N 5.090% 02/08/99 $ 5,000 $ 5,000 $ 5,000
FED NATL MTG ASSN M/T/N 4.950% 02/22/99 10,000 9,995 9,997
FED NATL MTG ASSN M/T/N 4.940% 02/23/99 5,000 4,992 4,998
FED NATL MTG ASSN M/T/N 5.400% 03/12/99 5,000 4,995 5,002
FED NATL MTG ASSN M/T/N 5.550% 03/12/99 2,030 2,027 2,032
FED NATL MTG ASSN M/T/N 6.000% 03/26/99 5,000 4,999 5,009
FED NATL MTG ASSN M/T/N 6.090% 06/14/99 5,000 4,999 5,023
FED NATL MTG ASSN M/T/N 6.070% 07/01/99 5,000 4,999 5,026
FED NATL MTG ASSN M/T/N 5.550% 08/10/00 5,000 5,078 5,043
FED NATL MTG ASSN M/T/N 5.490% 08/18/00 8,960 9,036 9,030
FED NATL MTG ASSN M/T/N 5.200% 09/14/00 22,000 22,227 22,076
FED NATL MTG ASSN M/T/N 4.450% 10/16/00 5,000 4,956 4,955
FED NATL MTG ASSN M/T/N 4.720% 12/11/00 5,000 4,983 4,976
FED NATL MTG ASSN M/T/N 6.180% 03/15/01 1,500 1,546 1,537
FED NATL MTG ASSN M/T/N 6.160% 04/03/01 6,000 6,165 6,141
FED NATL MTG ASSN M/T/N 6.400% 05/02/01 5,350 5,521 5,506
FED NATL MTG ASSN M/T/N 6.375% 08/14/01 1,000 1,040 1,032
FED NATL MTG ASSN M/T/N 6.650% 09/04/01 1,210 1,268 1,258
FED NATL MTG ASSN POOL # 9.550% 03/10/99 1,800 1,809 1,814
FED NATL MTG ASSN POOL
#190778 6.000% 05/01/01 8,528 8,499 8,526
FED NATL MTG ASSN POOL
#247817 6.000% 11/01/00 1,189 1,183 1,189
FED NATL MTG ASSN POOL
#303277 6.000% 06/01/01 20,470 20,423 20,464
FED NATL MTG ASSN POOL
#313201 6.000% 06/01/01 14,086 14,071 14,106
FED NATL MTGE ASSN 8.700% 06/10/99 1,000 1,005 1,015
FEDL HOME LOAN MTG CORP 7.900% 09/19/01 1,875 2,025 2,009
FEDL HOME LOAN MTG CORP
GRP #G40276 6.500% 12/01/99 5,196 5,244 5,194
FEDL HOME LOAN MTG CORP
GRP #G40343 5.500% 12/01/00 18,788 18,837 18,757
FEDL HOME LOAN MTG CORP
GRP #L80028 6.000% 07/01/00 1,266 1,267 1,267
FEDL HOME LOAN MTG CORP
GRP #M80142 6.000% 10/01/99 1,625 1,632 1,623
FEDL HOME LOAN MTG CORP
GRP #M80169 6.000% 05/01/00 3,505 3,519 3,509
FEDL HOME LOAN MTG CORP
GRP #M80306 5.500% 01/01/01 3,913 3,927 3,907
FEDL HOME LOAN MTG CORP
GRP #N93561 6.000% 05/01/00 1,453 1,452 1,454
-30-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
FEDL HOME LOAN MTG CORP
GRP #N94196 6.000% 08/01/00 $ 788 $ 794 $ 788
INTER AMERN DEV BK 8.500% 05/01/01 7,800 8,343 8,400
STUDENT LN MKTG ASSN NT 4.500% 08/02/99 35,575 35,221 35,475
---------- ---------- ----------
TOTAL GOVERNMENT BONDS $ 492,052 $ 495,153 $ 494,395
CERTIFICATE OF DEPOSITS
BANKERS TR CO C/D 5.800% 02/08/99 $ 10,000 $ 9,997 $ 10,012
BAYERISCHE LANDESBANK
N Y INSTL C/D 5.220% 02/12/99 5,000 5,001 5,001
GREENWOOD TR CO DEL C/D 5.800% 03/20/00 15,000 14,958 15,146
GREENWOOD TR CO DEL C/D 5.100% 10/09/00 10,000 9,964 9,965
---------- ---------- ----------
TOTAL CERTIFICATE OF DEPOSITS $ 40,000 $ 39,920 $ 40,124
---------- ---------- ----------
TOTAL FIXED INCOME
SECURITIES $2,273,834 $2,288,830 $2,297,347
SHORT TERM INVESTMENTS
COMMERCIAL PAPER
AMER EXPR CR CORP CPDS N/A 01/04/99 $ 35,000 $ 34,910 $ 34,904
ASSOC CORP OF NA C/P DISC N/A 01/04/99 10,000 9,928 9,926
GEN ELEC CAP CORP CPIB 5.040% 01/12/99 20,000 20,000 20,000
GEN MTRS ACCEP CORP C/P CPDS N/A 01/05/99 60,000 59,844 59,836
---------- ---------- ----------
TOTAL COMMERCIAL PAPER $ 125,000 $ 124,682 $ 124,666
COLL SHORT TERM INVST FD N/A N/A $ 37,013 $ 37,013 $ 37,013
CS FIRST BOSTON MSTR NOTE INC N/A N/A 24 24 24
GOLDMAN SACHS & CO MSTR NOTE N/A N/A 24,000 24,000 24,000
---------- ---------- ----------
TOTAL SHORT TERM
INVESTMENTS $ 186,037 $ 185,719 $ 185,703
-31-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
MATURITY PAR AMORTIZED CURRENT
DESCRIPTION COUPON DATE VALUE COST VALUE
---------------------------------------------------------------------------
PARTICIPANT LOANS
(ANNUAL INTEREST RATES
FROM 9.0 TO 6.5,
MAXIMUM PERIOD OF
REPAYMENT IS
60 MONTHS) N/A $ 152,716 $ 152,716 $ 152,716
---------- ---------- ----------
TOTAL COMMON ASSET
INVESTMENTS $2,612,587 $2,627,265 $2,635,766
========== ========== ==========
-32-<PAGE>
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
12/31/98
(thousands of dollars)
SHARES/ CURRENT
UNITS COST VALUE
FUND/ISSUE (000'S) ($000's) ($000'S)
-------------------------------------------------------------------------
EXXON CORPORATION PREFERRED
STOCK FUND
---------------------------
EXXON CORPORATION CLASS
A PREFERRED STOCK
(thousands of shares) 1,719 $105,700 $251,359
SHORT TERM INVESTMENTS
BEAR STEARNS MASTER NOTE $ 1,964 $ 1,964 $ 1,964
COLL SHORT TERM INVST FD 963 963 963
GEN ELEC CAP CORP DISC C/P CPDS 01/19/99 17,000 16,918 16,918
MORGAN STANLEY GRP INC MSTR NOTE 1,000 1,000 1,000
-------- ------- --------
TOTAL SHORT TERM INVESTMENTS $20,927 20,845 20,845
-------- ------- --------
TOTAL PREFERRED STOCK FUND $126,545 $272,204
EXXON CORPORATION COMMON
STOCK FUND
---------------------------
EXXON CORPORATION COMMON
STOCK (thousands of shares) 81,205 $2,475,960 $5,938,151
EQUITY PORTFOLIO FUND
---------------------
BARCLAYS GLOBAL INVESTORS
EQUITY FUND
(thousands of units) 3,417 $ 422,547 $ 994,460
EXTENDED MARKET PORTFOLIO
FUND
---------------------
BARCLAYS GLOBAL INVESTORS
EXTENDED EQUITY INDEX
FUND (thousands of units) 16,483 $ 240,892 $ 343,988
-33-<PAGE>
EXHIBIT 3
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27d-SCHEDULE OF REPORTABLE TRANSACTIONS
DECEMBER 31, 1998
(thousands of dollars)
Identity of Party Involved: Exxon Corporation
Description of Asset: Exxon Corporation Common Stock
Total Total Total Total
Number Number Dollar Dollar
Of of Value of Value of Net
Purchases Sales Purchases Sales Gain
--------- --------- --------- -------- -------
922,195 1,337,437 $57,005 $99,144 $14,683
Schedule prepared following the alternative format prescribed at
29 CFR 2520.103-6(d)(2) for a series of transactions involving
securities of the same issue as described at
29 CFR 2520.103-6(c)(1)(iii).
-34-<PAGE>
Report of Independent Accountants
To the Trustee of the Thrift Plan
In our opinion, the accompanying statements of net assets available for
benefits and the related statements of changes in net assets available for
benefits present fairly, in all material respects, the net assets available
for benefits of the Thrift Plan of Exxon Corporation and Participating
Affiliates (the "Plan") at December 31, 1999, December 31, 1998, and
November 30, 1998, and the changes in net assets available for benefits
for the year ended December 31, 1999 and the one month period ended
December 31, 1998, in conformity with accounting principles generally
accepted in the United States. These financial statements are the
responsibility of the Plan's management; our responsibility is to express
an opinion on these financial statements based on our audits. We conducted
our audits of these statements in accordance with auditing standards
generally accepted in the United States, which require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
Our audits were conducted for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental schedules
of assets held for investment purposes and reportable transactions are
presented for the purpose of additional analysis and are not a required
part of the basic financial statements but are supplementary information
required by the Department of Labor's Rules and Regulations for Reporting
and Disclosure under the Employee Retirement Income Security Act of 1974.
These supplemental schedules are the responsibility of the Plan's
management. The supplemental schedules have been subjected to the auditing
procedures applied in the audits of the basic financial statements and, in
our opinion, are fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
PricewaterhouseCoopers LLP
Houston, Texas
June 23, 2000
-35-<PAGE>
SIGNATURE
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Plan) have duly caused this
Annual Report to be signed by the undersigned hereunto duly authorized.
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
(Name of Plan)
/s/ J. E. Bayne
___________________________________
J. E. Bayne
Pursuant to delegation by
Administrator-Finance
Dated: June 23, 2000
-36-<PAGE>
EXHIBIT INDEX
-------------
EXHIBIT SUBMISSION MEDIA
23. Consent of PricewaterhouseCoopers LLP, Electronic
Independent Accountants,
Dated June 23, 2000
-37-<PAGE>
EXHIBIT 23
CONSENT OF INDEPENDENT ACCOUNTANTS
----------------------------------
We hereby consent to the incorporation by reference in the
Registration Statement on Form S-8 (No. 333-72955) of Exxon Mobil
Corporation of our report dated June 23, 2000 relating to the financial
statements of the Thrift Plan of Exxon Corporation and Participating
Affiliates, which appears in this Form 11-K.
PricewaterhouseCoopers LLP
Houston, Texas
June 23, 2000
-38-
